Balance-of-payments current account deficit - up 9.057bn euros in first 7 months

The the balance-of-payments current account registered in the first seven months of the current year a deficit of 9.057 billion euros, increasing by 69.29% compared to the one reported in January - July 2020, of 5.350 billion euros, the National Bank of Romania (BNR) informs on Monday.

In its structure, the balance of goods and the balance of primary incomes recorded higher deficits by 2.321 billion euros, respectively 854 million euros; the balance of services and that of secondary revenues registered lower surpluses by 267 million euros, respectively by 265 million euros.

Between January and July 2021, the total external debt increased by 6.058 billion euros. In terms of structure, long-term external debt amounted to 95.931 billion euros at July 31, 2021 (72.7% of total external debt), up 3.3% compared to December 31, 2020. Short-term external debt amounted to July 31, 2021 the level of 36.054 billion euros (27.3% of the total external debt), increasing by 8.9% compared to December 31, 2020.

The long-term external debt service rate was 17% between January and July 2021, compared to 20.1% in 2020. The coverage of imports of goods and services as of July 31, 2021 was 4.9 months, in compared to 5.6 months on December 31, 2020.

The degree of short-term external debt coverage, calculated at the residual value, with foreign exchange reserves at the BNR on July 31, 2021 was 84.8%, compared to 90.7% on December 31, 2020.